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Annuitizing at an early age is not really very attractive and I would suggest this is at the heart of concerns about annuities being perceived as offering poor value.
People may come to see the value of annuitizing, but they may need to be convinced.
Consumers are not annuitizing enough of their portfolios even though income annuities are low-cost, available from creditworthy insurers, and provide guaranteed payments for life.
Advisors with clients who are thinking about annuitizing a portion of their IRAs should make this clear before the clients act.
Most of our people annuitize to their need: They figure out the basic expenses they will have in retirement and how to annuitize to that," he says, "and we work closely with them to make sure that they can meet their legacy objective, if they have one, while still annuitizing part of their balance.
The key point: Annuitizing (or using a lifetime immediate annuity) produces income for a lower expenditure than does using other products.
Clients can also begin taking withdrawals of the guaranteed portion beginning at age 60 without annuitizing.
As the year draws to a close, pension plan sponsors may want to consider annuitizing their pension liabilities.
If you had needed money during the last 10 years, you could have received guaranteed income for life or for almost any a period of years by annuitizing your annuity.
Clients can get a lifetime income using the annuity value by annuitizing any time after the end of the fifth contract year,
A key measure of the relative attractiveness of annuitizing pension liabilities dipped slightly in August.